The pound news pair rose during today's trading on Thursday for the second day in a row, especially today after the service and manufacturing Purchasing Managers ' Index data, which rose more than expected, which led to the rise of the pound sterling against most currencies, especially the New Zealand.

The Central Bank of New Zealand has already started to reduce interest rates and started this month by reducing them by 25 basis points from 5.5% to 5.25%, and the bank still sees a slowdown in inflation and further cuts in the coming months.

Orr, the governor of the Bank of New Zealand, also said that a 50 basis point interest rate cut was on the table, and he also said that there will be further normalization of interest rates in the future as inflation falls.

Technically :

the gbpnewswire pair is trying to rise in the direction of the main downtrend levels, which we expect to easily break higher during the coming period.

A trend breakout and a higher close will open the way for a further rise of the pair towards the 2.1480 levels as an initial target and then a final target when the pair completes the harmonic BAT pattern, which will be near the 2.1800 levels.

This scenario fails if the 1.1100 low breaks down.